vcsss - Economics

Teachers: Dan Wolken
Textbook: Economics Today and Tomorrow, Glencoe, 2003

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Obj #	Unit	Objective: "The learner will . . ."	Standard(s)	No. of Days	Vocabulary Terms	Resources	Student Learning Activities	Assessment
	1	Introduction to Economics Productive resources are limited. Therefore people cannot have all the goods and services they want; as a result, they must choose some things and give up others.	SS 12.2.2 a,b,c,d,e SS 12.2.4 a,b SS 12.2.5 a,b,c SS 12.2.10 d	13	economics scarcity capital entrepreneurship technology traditional economy command economy mixed economy capitalism standard of living	Text Hand outs Internet	Discussion Hand outs Section Questions Notes Research	Test Quizes Paper
	2	Practical Economics Effective decision making requires comparing the additional costs of alternatives with the additional benefits. Most choices involve doing a little more or a little less of something; few choices are all-or-nothing decisions	SS 12.2.1 d,e SS 12.2.2 a,c,e SS 12.2.3 c, SS 12.2.4 a SS 12.2.7 a,b,c SS 12.2.8 a,b,c,d SS 12.2.9 a,b,c	21	disposable income warranty advertising consumer income principal collateral annual percentage rate unsecured loan durability security deposit registration fee liability insurance lease closing cost points mutual funds savings bonds capital gain diversification pension plan	Text Hand outs Internet	Discussion Notes Hand Outs Section Questions Research	Test Quizes Paper
	3	Markets exist between buyers and sellers. Prices send signals and provide incentives. Competition among sellers lowers cost. Competition between buyers raises the price.	12.2.1 a,b,c,f 12.2.2 a,b,d,e 12.2.3 a 12.2.4 b 12.2.10 c	19	law of demand real income substitution effect demand curve elasticity supply curve shortage equilibrium price surplus charter assets proprietorship partnership stock corporation franchise deregulation conglomerate monopoly oligopoly merger anti-trust laws	Text Hand Outs Internet	Discussion Notes Hand Outs Section Questions Research	Test Quizes Project
	4	Microeconomics Competition among sellers lowers costs and prices. Competition among buyers increases prices. Labor may organize to receive more. Market system changes with supply and demand.	12.2.1 d,f 12.2.3 a,e 12.2.6 a,b,c,d 12.2.11 c	15	revenue consumer goods profits financing assembly line mechanization test-marketing penetration pricing price leadership retailer promotion unskilled workers agency shop arbitration injunction closed shop boycott right-to-work	Text Hand Outs Internet	Discussion Notes Hand Outs Section Questions Research	Test Quizes Project
	5	Macroeconomics A nation's overall levels of income, employment. Unemployment imposes costs on individuals and nations. Unexpected inflation imposes costs on people Inflation can reduce the rate of growth of a nation. Costs of government policies sometimes exceed benefits. Federal government budgetary policy and the Federal Reserve.	12.2.1 c 12.2.3 b,c,d,e 12.2.4 b 12.2.10 a,b,c,d,e 12.2.11 a,b,c	32	business cycle real GDP fiat money commodity money fiat money deposits legal tender EFT Fed prime rate monetary policy federal funds rate open-market reserve tight money public goods income distribution national debt Medicare Social Security Medicaid unemployment full employment inflation stagflation fiscal policy monetarism monetary rule	Text Hand Outs Internet	Discussion Notes Hand Outs Section Questions Research	Test Quizes Project
	6	The International Scene When individuals, regions, and nations specialize. Raising of standards of living by investing in advancements. Investments in factories, machinery, and technology. Different methods can be used to allocate goods.	12.2.5 c 12.2.12 a,b,c 12.2.13 a,b	25	absolute advantage comparative advantage embargo protectionists balance of trade depreciation tariff exchange rate communism socialism welfare state privatization foreign aid subsistance ag. developing nations tech. ass. bureaucracies nationalism global integration telecommunication foreign investment multinationalism microchip cybernomics internet e-commerce intellectual property	Text Hand Outs Internet	Discussion Notes Hand Outs Section Questions Research	Test Quizes Project